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Veritex Holdings (VBTX) Tops Q3 Earnings and Revenue Estimates
Veritex Veritex (US:VBTX) ZACKSยท2024-10-22 22:56

Company Performance - Veritex Holdings (VBTX) reported quarterly earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.56 per share, but down from $0.60 per share a year ago, representing an earnings surprise of 5.36% [1] - The company posted revenues of $113.17 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.11% and up from $109.04 million year-over-year [1] - Over the last four quarters, Veritex Holdings has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [1] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.59 on revenues of $111.9 million, and for the current fiscal year, it is $2.13 on revenues of $431.05 million [4] - The estimate revisions trend for Veritex Holdings is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [4] Industry Context - The Banks - Southeast industry, to which Veritex Holdings belongs, is currently in the bottom 29% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [5] - Another company in the same industry, Seacoast Banking (SBCF), is expected to report quarterly earnings of $0.36 per share, reflecting a year-over-year decline of 2.7%, with revenues anticipated to be $128.57 million, down 6.2% from the previous year [5]